Shareholders tell Heineken: invest where it pays, or else

The Netherlands | As Heineken is aiming to deliver mid-single digit annual revenue growth until 2030, CEO Dolf Van den Brink had to come clean with investors (23 October) how this target can be met. Analysts were told the brewer will focus investment on 17 key markets, while considering divestment from underperforming markets.

‘Drastic Dave’ shall save embattled Diageo

United Kingdom | Diageo’s shareholders breathed a sigh of relief on 10 November after the drinks group announced the appointment of its new CEO, Sir Dave Lewis. The news that Diageo had not only ended an awkward four-month long recruitment drive, but had sent for the man widely credited with saving the UK retailer Tesco, boosted Diageo’s shares by as much as 7 percent that day.

EU court rules non-alcoholic drinks cannot be called ‘gin’

Luxembourg | The EU’s top court has ruled that non-alcoholic drinks cannot be called gin. Only spirit drinks based on ethyl alcohol, flavoured by juniper berries with a minimum alcoholic strength of 37.5 ABV, can be marketed as gin, the court said in a judgment issued on 13 November. 

Russia | Russia’s largest bank, Sberbank, has acquired through its subsidiary Sberbank Investments a 9.1 percent stake in Bochkarev Breweries, previously known as United Breweries (OPH), which itself was the renamed Russian unit of Heineken. As of 1 November, Bochkarev Breweries is the new name of Russia’s third-largest brewery. The Russian news site Kommersant reported on 30 October that local observers value the investment between RUB 1.3 billion and RUB 1.7 billion (USD 21 million).

Beer is becoming more expensive in Russia while sales decline

Russia | Is this a sign of worse things to come for the Russian economy? Off-premise beer sales in the first nine months of 2025 have declined by 16.9 percent over the same period in 2024. The collapse in demand is explained by the cold summer and rising prices. However, the drop in sales is seen in almost all key alcohol categories, including wine and vodka.

Heineken bids UEFA Champions League farewell

The Netherlands | Heineken will end its three-decade-long run as the official beer sponsor of the UEFA Champions League in August 2027. The decision follows what the group described (30 October) as a “strategic review” of its sponsorship portfolio. The company cited a sharper focus on investments that deliver “spend proportionate to value creation” and measurable returns on investment. Heineken first sponsored the tournament in 1994 with the Amstel brand before switching to its flagship namesake beer in 2005.

Heineken warns of more brewery closures and potential market exits

The Netherlands | Dutch brewer Heineken notified on 22 October that its 2025 beer sales would fall as macroeconomic challenges worsened, further downgrading its volume guidance from the previous quarter. The company reported a 0.3 percent organic decline in third-quarter 2025 net revenues. Its 4.3 percent organic beer volume decline was broadly in line with forecasts. Volume sales are down 2.3 percent year-to-date.

Heineken closes one of its Polish breweries over volume declines

Poland | Heineken’s Grupa Żywiec unit in Poland is set to cease production at the historic Namysłów brewery in early 2026. Citing a “declining beer category” in the country along with “growing costs and taxes”, the subsidiary said on 17 October that some 100 employees will receive a “full severance package and additional support”, in accordance with their trade unions. Żywiec added that it is in “advanced discussion with potential investors” regarding a potential sale of the brewery’s assets.

AB-InBev announces USD 6 billion buyback as beer volumes decline

Belgium | AB-InBev announced a USD 6 billion share buyback over two years, as the Belgian brewer cuts debt and grows profits even as sales fall. On 30 October it reported a 3.3 percent rise in underlying operating profit in the third quarter 2025, but it was still the lowest quarterly profit growth since 2021 for the maker of Stella Artois and Corona. Organic volumes slipped 3.7 percent, with beer volumes down by 3.9 percent, as they were dragged down by weak demand in China and poor weather in Brazil.

Carlsberg weighed down by weak consumer spending

Denmark | Carlsberg, on 30 October, reported a decline in underlying sales and volumes for the third quarter 2025 from a year earlier, citing a challenging consumer environment, and said it was taking steps to cut costs. The Danish brewer posted a 1.4 percent drop in organic sales – excluding acquisitions – and a 3 percent decline in organic volumes.